Sample Business Contracts

Employment Agreement - General Motors Corp. and Robert A. Lutz

Employment Forms

Employment Contract. Employers can customize an employment agreement that states the salary, benefits, working hours and other important provisions for their new or existing employee.
Consulting Agreement. Answer simple questions to build a contract with a consultant. Specify the services rendered, when payment is due, as well as IP rights.
Commission Agreement. Employers who compensate their sales employees based on commissions can prepare an agreement to reduce misunderstandings by specifying the base salary and how commissions are calculated.
Executive Employment Agreement. Companies may offer their business executives a contract that is different from the one provided to their regular employees. Executive employment agreements may be more complex because the compensation structure may include a combination of salary and commissions, provide for bonuses based on sales, stock or other financial targets, and include non-compete, confidentiality and severance provisions.
Sales Representative Contract. Independent sales representatives offer companies the potential to increase the sale of products or services without the burden of increasing headcount. Both parties should understand how commissions are calculated, when commissions will be paid, as well as how the representative will treat confidential information from the company and whether the representative may also sell a competing line of products or services.
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                                December 20, 2002




Mr. Robert A, Lutz



Dear Bob:

I am extremely pleased that you have agreed to remain for one year beyond our
previous agreement through year-end 2005. Our intent would be that after that
date your compensation and benefits would be under the continual review of the
Executive Compensation Committee (ECC).

Your base salary, and other components of incentive pay and benefits will be
reviewed periodically by the ECC of the Board of Directors and, based on that
review, may be adjusted. We will extend your bonus guarantee for one additional
year so that in no case will your bonus for calendar year 2004 be less than
$500,000.

Your participation in all compensation and benefits plans will be controlled by
the terms of those plans. Whenever we mutually agree that you would retire from
General Motors, we will work with you on a mutually satisfactory severance
arrangement as appropriate.

Please indicate your acceptance of the extended employment agreement by signing
below. Also, reflecting the extension of the employment term, you should achieve
a stock ownership level of at least four times your base salary.

I look forward to our continuing relationship.

                                   Sincerely,


                         (Signed by G. R. Wagoner, Jr.)



AGREED AND ACCEPTED BY:


/s/ Robert A. Lutz                  12-20-02
-------------------------           --------------------
Robert A. Lutz                      Date











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